Category Archives: Stockbroker Discharged

Failure to Supervise, Misrepresentation, Raymond James, Stockbroker Discharged, Stockbroker Malpractice, Unsuitable Investments, Wells Fargo

George E. Mathis-Raymond James Broker-Discloses Customer Suit-The Villages, FL

June 2018-The Villages, Florida

According to FINRA records, George Edward Mathis, a broker who is employed by Raymond James, discloses a pending customer dispute, 4 prior customer disputes and a termination from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In a prior matter, FINRA Case 16-0226 a customer of Raymond James alleged that Mathis made unsuitable investments and misrepresented the investments from 9/2013-1/2016. The customer sought damages of $190,000. That case was settled for $70,000.

In currently pending FINRA Case 18-1663, a customer of Raymond James alleges breach of fiduciary duty by Mathis , breach of contract and fraud in the handling of his account from 1/2014-9/2016.. Damages of $65,000 are sought.

Mathis was discharged by Wells Fargo in 11/2011 for supplying inaccurate educational background information while preparing sales literature.

If you have questions about an account handled by George E. Mathis, contact us for a no charge consultation. You may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Churning, Excessive use of margin borrowing, Failure to Supervise, Oppenheimer, Stifel Nicolaus & Co., Stockbroker Discharged, Stockbroker Malpractice, Unauthorized Trading

Mitchell Yanow-Former Stifel Nicolaus Broker-Discharged Over Allegations of Misappropriation of Customer Funds-Boca Raton, FL

June 2018- Boca Raton, FL

The FINRA records of Mitchell T. Yanow  , a stock broker who is not currently registered  disclose  that he was recently discharged by Stifel, Nicolaus & Co. and the settlement of a customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In May 2018, Yanow was discharged by Stifel Nicolaus, who alleged that Yanow “took money from a client account for his personal use without authority”.

Yanow had been employed by Stifel Nicolaus since 4/2015. Prior to that he was employed by Oppenheimer & Co. 

In 9/2015 a customer of Yanow/Oppenheimer was paid $144,000 to resolve allegations that their account was charged excessive commissions and margin interest.

If you have questions about  an account handled by Mitchell Yanow, call for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Concentrated Positions, Edward Jones, Failure to Supervise, Misrepresentation, Stockbroker Discharged, Stockbroker Malpractice, Unsuitable Investments, Woodbury Financial Services

Jack Maloney-Former Edward Jones Broker-Subject of Customer Suits-Morristown/Johnson City, TN

June 2018- Morristown/Johnson City , Tennessee

The FINRA records of John J. Maloney III (Jack Maloney)  , a stock broker who is employed by Woodbury Financial Services , disclose  2 pending customer disputes, 3 prior customer disputes,  and a termination from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Two FINRA arbitrations are currently pending:

  • Case 17-3464- A customer of Maloney’s prior employer Edward Jones seeks damages of $329,523 and alleges that recommendations to invest in FireEye since 2014 was not a suitable investment.
  • Case 17-3010-Another Edward Jones customer alleges that Maloney made misrepresentations, unsuitable recommendations, breached his fiduciary duty and other claims from 12/1998-5/2016. The customer seeks an unspecified amount of damages.

In 6/2017 a customer of Edward Jones was paid $132,500 to settle FINRA Case 16-1706 in which they alleged that Maloney made unsuitable recommendations to purchase individual equities that resulted in losses.

Jack Maloney  was employed by Edward Jones from 3/1981 until he was discharged in 5/2016. According to Edward Jones “Mr. Maloney did not adhere to the Firm’s policy regarding suitability of recommendations”.  Maloney has been employed by Woodbury Financial Services since 6/2016, and operates Crossbridge Wealth Management & Benefits Group in Johnson City, TN.

FireEye stock reached a high of $88 in February of 2014 and currently trades for about $17.

Brokers have a duty to make recommendations that are suitable, taking into account the age, health, level of financial sophistication, risk tolerance and investment objectives of the customer.

If you have questions about  an account handled by Jack Maloney, call for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Failure to Supervise, FINRA, Misrepresentation, Stockbroker Discharged, Stockbroker Malpractice, StockCross Financial Services, Unauthorized Trading, Unsuitable Investments

Herbert Voss, Jr.-Former StockCross Broker-Discloses Numerous Customer Suits & Termination From Employment-Beverly Hills, CA

June 2018- Beverly Hills, CA

The FINRA records of Herbert Voss, Jr.  , a former stock broker who was last employed by StockCross Financial Services , disclose a regulatory event,  a pending customer dispute, 7 prior customer disputes,  and a termination from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In May 2018 FINRA permanently barred Voss from the securities industry after he failed to appear before FINRA for on the record testimony concerning a customer complaint alleging that Voss had engaged in unauthorized trading in the customer’s account.

Prior settlements with customers include:

  • In 2/2017 a customer of StockCross Financial alleged that Voss made unsuitable investment recommendations. That case was settled for $900,000 in 12/2017.
  • In FINRA case 10-1389 a customer of his former employer UBS Financial alleged that Voss charged excessive commissions and made unauthorized trades. That case settled for $950,000.

In currently pending FINRA arbitration #17-03505 a customer of Stockcross Financial alleges poor performance, fiduciary breach and failure to supervise. The customer seeks damages of $550,000.

Voss  was employed by StockCross Financial   since 7/2009 until 5/2018 when he was discharged after a customer alleged unauthorized trading in options.

If you have questions about  an account handled by Herbert Voss, Jr. , call for a no charge consultation.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Failure to Supervise, Ponzi Schemes, Securities Service Network, Stockbroker Discharged, Stockbroker Malpractice

Peter Holler-Former Securities Service Network Broker-Subject of Suits Over Woodbridge Fund Losses-Bristol, TN

May 2018- Bristol, TN

The FINRA records of  Peter David Holler ,  a  registered stock broker who is currently suspended and who was last employed by Securities Service Network ,  disclose  two pending customer disputes involving the allegedly fraudulent Woodbridge Mortgage Investment Funds.

Total damages alleged in the pending cases exceed $600,000. Claimants have alleged that Holler sold them fraudulent investments in Woodbridge Mortgage Investment Fund 4 and Woodbridge Mortgage Investment Fund 3A.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Woodbridge-A $1.2 billion Ponzi According to SEC

The U.S. Securities and Exchange Commission announced charges and an asset freeze against a group of unregistered funds and their owner who allegedly bilked thousands of retail investors, many of them seniors, in a $1.2 billion Ponzi scheme.

According to the SEC’s complaint, unsealed in federal court in Miami, Florida, Robert H. Shapiro and a group of unregistered investment companies called the Woodbridge Group of Companies LLC, formerly headquartered in Boca Raton, Florida, defrauded more than 8,400 investors in unregistered Woodbridge funds.

“We allege that through aggressive tactics, Woodbridge and Shapiro swindled seniors into a business model built on lies, which the SEC’s Miami Regional Office staff moved to halt,” said Stephanie Avakian, Co-Director of the SEC’s Enforcement Division.

“Our complaint alleges that Woodbridge’s business model was a sham,” said Steven Peikin, Co-Director of the SEC’s Enforcement Division. “The only way Woodbridge was able to pay investors their dividends and interest payments was through the constant infusion of new investor money.”

“Our complaint further alleges that Shapiro used a web of layered companies to conceal his ownership interest in the purported third-party borrowers,” said Eric I. Bustillo, Director of the SEC’s Miami Regional Office.  “Shapiro used the scheme to line his pockets with millions of investor dollars.”

Holler was employed by Securities Service Network  from 11/2001 until 8/2017 when he was discharged by Securities Service Network in connection with the sale of Woodbridge Funds.

If you have losses in an account handled by Peter Holler, call for a no charge consultation to learn about your options for recovery of damages.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870